Exam 1: Review of Arithmetic

The town of Pandora assesses property at market value.How much will the owner of a house valued at $325 000 owe in taxes if this year's mill rate has been set at 21.386?

Evaluate:

Mohammad is paid a weekly commission of 2% on net sales of $6000.00,4% on the next $3 000.00 and 6.25% on all further sales.His gross sales for a week were 11 160.00 and sales returns and allowances were $120.00. a)Calculate his gross earnings for the week. b)Calculate the average hourly rate of pay for the week if he worked 40 hours.

Jigger is planning to buy a house.He has two options.A 2400 sq.ft.bungalow in Whitby costs $389 000.A similar size house costs $369 000 in Oshawa.Jigger plans to base his decision on the cost of property tax paid.Whitby charges the property tax at the mill rate of 13.59815,whereas Oshawa charges the property tax at the mill rate of 16.18347.Where will Jigger end up paying less tax and likely buy the home?

An employee receives a gross pay of $750.73 for 47.25 hours of work.What is the hourly rate of pay if a regular work week is 37.5 hours and overtime is paid at time-and-a-half the regular rate of pay?

Calculate the property tax on a property located in the City of Brampton and assessed at $326 500 if the current tax rate is 1.05351%

Evaluate: 395(2 + .15 ∗ 290/365)

Abu sells mutual funds for CIBC.On mutual funds sales,CIBC charges a "front-end load" or gross commission rate of 5%.Abu is paid on a graduated commission structure.He receives 30% commission on the first $50 000 worth of mutual funds he sells in a month,40% commission for the next $50 000 worth of mutual funds,and 75% commission on all additional sales in the same month.What is Abu's commission for a month in which he sells $150 000 worth of mutual funds?

Simplify: 6 + - 4

You are supposed to teach 15 credit hours per week per term for a tri-mester school year.Anything above is considered to be overtime and is compensated at time and one-half you regular rate of $27.13 per hour.You work the following credit hours.How much total overtime,for the entire term,does your employer owe you at the end of the third term (assume that you were not paid any overtime in terms one and two and that the term is 15 weeks long)?

A salesperson receives a commission of 5% on the first $1500.00 of sales during a week.On the next $5000.00 she receives a commission of 10.5%.On any additional sales,the commission rate is 11.75%.Find her gross earnings for a week during which her sales amount to $12 400.00.

Isabelle works for The Brick,a furniture company.She earns a base salary $12/hr,40 hours a week.However,she is also paid commission of 2% for all sales and an extra lump sum of $1000 incentive if her monthly sales exceed $10 000.In the month August,she won the title of employee of the month for total sales of $75 000.How much did she earn in the month of August,assuming a 4 week month?

Tommy Hughes invested $10 000 in a business on January 1.He withdrew $1000 on March 1,reinvested $5000 on July 1,and withdrew $4000 on October 1.What is Tommy's average monthly investment balance for the year?

In the first term,Sam's courses and grades were as follows: Calculate Sam's Grade Point Average (GPA).

Evaluate:

Simplify: 10 + - 5

Spade Realty sold lots for $17 120 per hectare.What is the total sales value if the lot sizes,in hectares,were 5 3/4,7 1/3,5 5/8,and 4 1/6?

A pay stub shows gross earnings of $447.00 for 47 hours of work.What is the hourly rate of pay if the regular workweek is 40 hours and overtime is paid at time and one-half the regular rate of pay?

Kim invested $7500 in a business for 3 months.She withdrew $2500 at the start of the fourth month and kept the rest of the money in the savings account for the remaining 9 months in the year.What is Kim's average monthly investment balance for the year?

Suppose you went shopping and bought bulk laundry detergent worth $11.65.You then received a $1.50 trade discount,and had to pay a $2.10 shipping charge.Find the total purchase price of the detergent in Nova Scotia.